IG has gone from offering no interest on uninvested cash to bucking the Bank of England’s base rate cut and going large on cash interest deposits.
Online trading giant IG has launched a new promotion offering clients up to 8.50% AER variable interest on uninvested cash, marking the best interest rate on uninvested cash in the UK investing platform space.
The offer is aimed at new clients who open an account and place their first investment between 8–31 May 2025. The promotional rate—made up of the Bank of England’s 4.25% base rate plus a 4.25% bonus—will apply to eligible balances up to £100,000 across ISA, SIPP and GIA accounts. The enhanced rate will remain in place until 31 August 2025.
To maintain eligibility each month, investors must either keep an active Smart Portfolio, hold an open share position, or complete at least one trade (buy or sell). IG is marketing the scheme as a “simple and flexible” way for new investors to earn more on idle cash, especially as rival providers prepare to cut rates following the latest BoE announcement.
The campaign slogan—“The BoE went low, we went high”—emphasises IG’s counter-cyclical stance in offering better value at a time when many firms are paring back interest incentives. It also reinforces IG’s position as a platform that rewards active engagement and diversified investment.
The promotion applies to both desktop and mobile platforms, broadening its appeal to digitally savvy investors looking to maximise returns on unused capital without locking into a fixed savings product.
For IG, the move is a strategic push to convert more first-time investors by rewarding early and ongoing activity. For retail investors, it presents a rare chance to earn interest that significantly exceeds high street savings accounts—without sacrificing access to funds or investment flexibility.
Will others follow suit, or is IG setting a new bar alone? I think they will. People love cash, they love offers and as trading platforms can’t offer switching bonuses any more being top of the interest rate charts is a great way to seduce customers from other platforms, whilst actually giving them value for money.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
